GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).
Germany and Austria to tap oil reserves after 400 million barrels requested Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
Honourable Justice Dije Aboki of Kano State High Court has granted and application for leave to prefer charge against the duo of Saminu Umar Tar'ambu and Ahmed Maiturare of popular Kantin Kwari Textile Market,Kano City,brought by the EFCC.The prime suspect,Ta'ambu,was alleged to have approached Mathias Hee,a Swiss National and owner of Okutex,a textile manufacturing company sometimes in July,2015,requesting for the supply of fabrics totaling $530,000 under the pretence that he acted on behalf of Kano State Government.He forged documents titled Authorization to transfer to foreign account purported to have been issued and signed by the authorities of the Government of Kano State.Since the supplies,Ta'ambu failed to honour his part of the bargain and has refused to remit the amount as agreed.The matter has been adjourned to 5th of October,2016,for arraignment.One more photo below.
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